Looking to diversify beyond FIRFX? The mutual funds below have historically moved differently from FIRFX, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for FIRFX
2 mutual funds have low correlation with FIRFX (below 0.3), 0 of which are negatively correlated. The least correlated is BlackRock Global Equity Market Neutral Fund Investor A (BDMAX) (Equity Market Neutral) with a 1Y correlation of 0.26, up from 0.09 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| BlackRock Global Equity Market Neutral Fund Invest... | 0.26 | 0.14 | 0.09 | 97 | Equity Market Neutral | FIRFX vs BDMAX | |
| BlackRock Global Equity Market Neutral Fund Class ... | 0.27 | 0.14 | 0.09 | 97 | Equity Market Neutral | FIRFX vs BDMIX | |
| Virtus AlphaSimplex Managed Futures Strategy Fund ... | 0.44 | 0.25 | 0.01 | 66 | Systematic Trend | FIRFX vs ASFYX | |
| BlackRock Enhanced Equity Dividend Trust | 0.57 | 0.59 | 0.64 | 64 | Derivative Income | FIRFX vs BDJ | |
| Voya Target Retirement 2040 Fund | 0.76 | 0.85 | 0.87 | 75 | Target Retirement Date | FIRFX vs IRSOX |
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